Richard C. Young & CO. LTD. Has $23.53 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Richard C. Young & CO. LTD. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 902.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 136,390 shares of the semiconductor manufacturer’s stock after acquiring an additional 122,785 shares during the period. Broadcom makes up about 2.6% of Richard C. Young & CO. LTD.’s holdings, making the stock its 5th largest holding. Richard C. Young & CO. LTD.’s holdings in Broadcom were worth $23,527,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Castleview Partners LLC grew its stake in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 134 shares during the last quarter. Tsfg LLC grew its stake in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares in the last quarter. Krane Funds Advisors LLC bought a new position in shares of Broadcom in the third quarter worth $42,000. Highline Wealth Partners LLC bought a new position in shares of Broadcom in the third quarter worth $45,000. Finally, AlphaCentric Advisors LLC grew its stake in shares of Broadcom by 859.3% in the third quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer’s stock worth $45,000 after purchasing an additional 232 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Down 1.3 %

AVGO opened at $163.25 on Thursday. The business has a 50-day moving average of $173.78 and a 200-day moving average of $160.09. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The company has a market capitalization of $762.47 billion, a PE ratio of 141.96, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same period last year, the business earned $0.95 EPS. The firm’s revenue was up 47.3% compared to the same quarter last year. Equities research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.30%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 184.35%.

Analyst Ratings Changes

AVGO has been the subject of several recent analyst reports. Benchmark reissued a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. UBS Group upped their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Rosenblatt Securities cut their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Finally, Truist Financial upped their price objective on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.